Ikanos IPO Ends
First Trading Day
With 8.3% Gain

By

Lynn Cowan Dow Jones Newswires

Updated Sept. 23, 2005 12:01 a.m. ET

Shares of semiconductor developer Ikanos Communications Inc. closed up 8.3% on their debut, the first strong move by an initial public offering during a week that has seen two mediocre performances, one cancellation and one delay.

The Fremont, Calif., company, which makes semiconductors that enable fast broadband services over telephone companies' existing copper lines, opened at $13.30 a share, but closed at $13, up from its $12 offer price. Ikanos sold 6.4 million shares at the high end of its $10 to $12 offering range...